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Finance committee forwards Oxnards FY 2023-24 comprehensive financial report after auditors issue clean opinion
Summary
An independent audit for Oxnard Citys fiscal year 2023-24 received a clean opinion from the citys auditors; the Finance & Governance Committee voted 3-0 to send the report to the full City Council.
The Oxnard City Finance & Governance Committee voted 3-0 on March 11 to send the fiscal year 2023-24 Annual Comprehensive Financial Report (ACFR) and related auditor materials to the full City Council.
Brandon Farrell, an audit partner with EDMP, told the committee the auditors had issued a clean opinion for the year ending June 30, 2024. "This year, as in prior years, we have a clean audit opinion," Farrell said during the presentation. Farrell highlighted that the audit was risk-based, noted recent accounting guidance (GASB 100) and identified significant accounting estimates including pension and OPEB valuations, allowance for doubtful accounts,…
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